November 6, 2015
The Texas Deceptive Trade Practices Act or "DTPA" is a set of statutes designed to supplement traditional common-law causes of action. The DTPA seeks to punish false, misleading, or deceptive acts or practices in the conduct of any trade or practice. Because of the Act's liberal construction and attractive monetary remedies, it provides a powerful weapon to a broad range of plaintiffs.
Buy-Sell Agreements are contractual commitments between co-owners of a business entity pertaining to the sale of their ownership interests upon the occurrence of certain pre-defined events. Having such an agreement in place provides stability to the underlying entity, liquidity, and assurance to the owners. These types of agreements can be very complex and should be tailored specifically for the particular circumstances of the entity and its owners. However, there are some common considerations that should be evaluated in any buy-sell agreement.